State Street Corp Acquires 3,779 Shares of FedEx Co. (NYSE:FDX)

State Street Corp grew its holdings in FedEx Co. (NYSE:FDX) by 0.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,404,593 shares of the shipping service provider’s stock after purchasing an additional 3,779 shares during the period. State Street Corp’s holdings in FedEx were worth $2,586,758,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FDX. Evermay Wealth Management LLC increased its holdings in shares of FedEx by 72.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 95 shares of the shipping service provider’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of FedEx in the third quarter worth $31,000. Central Valley Advisors LLC bought a new stake in shares of FedEx in the second quarter worth $39,000. Abound Wealth Management grew its holdings in shares of FedEx by 175.9% in the second quarter. Abound Wealth Management now owns 149 shares of the shipping service provider’s stock worth $45,000 after acquiring an additional 95 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of FedEx in the third quarter worth $47,000. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

NYSE:FDX opened at $279.53 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $68.30 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.18 and a beta of 1.18. FedEx Co. has a 12 month low of $234.45 and a 12 month high of $313.84. The business’s 50-day moving average is $279.55 and its 200 day moving average is $279.60.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, September 19th. The shipping service provider reported $3.60 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion during the quarter, compared to analysts’ expectations of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. FedEx’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.55 earnings per share. On average, equities research analysts forecast that FedEx Co. will post 19.59 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 9th will be given a $1.38 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.97%. FedEx’s dividend payout ratio is currently 34.05%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Daiwa America lowered FedEx from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Barclays lifted their price objective on FedEx from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Citigroup lifted their price objective on FedEx from $301.00 to $331.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Susquehanna cut their price target on FedEx from $345.00 to $330.00 and set a “positive” rating for the company in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. boosted their price target on FedEx from $350.00 to $366.00 and gave the company an “overweight” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $316.68.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.